Ecoforum Journal (University of Suceava, Romania)
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ANALYSIS AND IDENTIFICATION OF RESEARCH CORRELATIONS BETWEEN INTEGRATED REPORTING AND GLOBAL ENTERPRISE PERFORMANCE
No full textThe development and globalisation of the world\u27s economies and the growing number of multinationals contribute to a huge flow of financial and non-financial information. The process of gathering information is difficult and sometimes limited. This has raised the issue of developing an integrated reporting framework, encompassing all types of information and contributing to right investment decisions, in order to ensure the sustainable development of the entity. Financial reporting has adapted to the needs of stakeholders and market requirements, thus from simple reporting through statutory financial statements, we now have an integrated reporting system, covering all financial and non-financial information (social, environmental and governance indicators, etc.) of the entity. Through integrated reporting, the overall performance of the company is basically presented, incorporating economic, social and environmental performance indicators. The purpose of this article is to provide an analysis of the concept of overall business performance and integrated reporting and to highlight the role of integrated reporting in business sustainability
STUDY ON THE EVOLUTION OF THE ACTIVITY OF MOLDOVA INNOVATION TECHNOLOGY PARK RESIDENTS
No full textIT in Moldova has become an increasingly visible source of economic growth. In this context, the rapid development of the IT industry has also led to the development of legislation in this field. Thus, the IT sector is stimulated by the state, benefiting from a more advantageous tax regime, with a one-off 7% sales tax. The rebranding of the Moldova Innovation Technology Park has the vision of making Moldova a top destination for tech and innovation services and products. In order to examine the evolution of Moldova Innovation Technology Park residents\u27 activity, we conducted research on entities in this sector, looking at four consecutive financial periods (2018-2021), the first two of which were in a normal environment, while the years 2020-2021 are marked by the pandemic context. In order to investigate the activity of residents Moldova Innovation Technology Park operated with methods and techniques specific to economic and financial analysis, such as: absolute and relative deviations, growth indices, graphs, etc. The results obtained, exceeded expectations, since there are over 15 thousand employees in 960 resident entities, with an average monthly salary per employee of over 1800 euros, and, sales revenue constitutes 6.9 billion MDL, of which about 86% makes up export in eligible sales revenue
APPROACHING TELEWORK SYSTEM BY ROMANIAN EMPLOYEES IN THE PANDEMIC CRISIS
No full textSuddenly and unexpectedly, many workers had to change their work location to home during the COVID-19 pandemic that emerged at the end of 2019. Swiftly, the line between work and personal life got blurred and the home became a working and an educational place. These changes had a thumping impact on the employees’ way of living and working. The new way of working from home challenged Romanian employees’ capacity to sustain their job satisfaction, the efficiency of work, and work-life balance. The study presents and analyses official results of two surveys by the “European Foundation for the Improvement of Living and Working Conditions” regarding Romanian employees’ attitudes and perceptions about working conditions, performance and job satisfaction, subsequently experiencing telework activities during the pandemic crisis. The research findings reveal that even if the working hours increased a lot in the remote system, the respondents displayed their overall satisfaction and willingness to continue working from home
GASTRONOMY – A POTENTIAL TOURISM BRAND OF THE ROMANIAN DANUBIAN REGION
No full textThe present paper is set to identify, through a comparative study developed simultaneously, elements characteristic to the local gastronomy of six Danubian counties, whose county seats are passed through or bordered by the Danube River, in order to determine whether there is basis for the development of a local food tourism and for the creation of a destination brand for the Danube region which would have the local cuisine as element of reference. The conclusions of the research carried out illustrate a great lack of homogeneity among the selected counties, both in terms of the gastronomic aspect and of the touristic one, a fact that at present would make the creation of a unique brand of tourist destination of the Danubian cities very difficult, but not impossible, and which would have the local gastronomy as the central element
Use of assurance services for integrated reporting in developing Georgia.
No full textThe economic crisis caused by the Covid-19 pandemic has had the most severe impact on the financial accounting and auditing of enterprises.Hindered the events of the reporting period and the possibility of continuous operation of the enterprise. Integrated reporting is the brief communication of how an organization\u27s strategy, management, efficiency, and prospects create value in the short, medium, and long term. Many of the world\u27s leading companies publish integrated reports outlining key reporting innovations. Further development of practical approaches is needed in this relatively new and underdeveloped field of integrated reporting and assurance services. Individuals involved in reporting and assurance service providers should be the initiators of the news and provide their views and comments to the standards development bodies. Consumers should actually evaluate their expectations for the assurance service. The belief in integrated accounts lays a solid foundation for gaining capital markets and public confidence so that enterprises can maintain stability and grow their business sustainably
GEOMORPHOSITES IN THE DOBRUDJA PLATEAU. INVENTORY AND EVALUATION
No full textGeomorphosites are landforms of great scientific importance, to which humans have attributed value according to use and perception. They play a major part in the touristic development of a territory and can be included in geotouristic itineraries. The main aim of this work is the evaluation of the most important geomorphosites in the Dobrudja Plateau, making use of two of the most known evaluation methods, namely the Pralong method (2005) and the Reynard et. al. method (2007). The age of the geological structures and the geomorphologic diversity of the area o study requires a detailed analysis of the landforms of scientific, but also touristic importance. The results have shown that the Dobrudja Plateau has spectacular landforms, with high geotouristic potential (for instance Pricopanului Ridge, Dobrogea Gorges)
TRANSFER PRICING – A NEW TAX CHALLENGE FOR MULTINATIONAL COMPANIES
No full textIn our increasingly digitalized economy characterized by a high number of international transactions and a high speed of information exchange between jurisdictions, there are many challenges that can arise - in different domains of economic activity - from this context, challenges that our society has to manage and overcome. Among these, we can mention a current problem, namely the one related to the transfer pricing mechanism in the context of intra-group transactions of the multinational companies, which used improperly by them, can be an instrument for illegal transfer of their profit in low-tax jurisdictions, evading this way from their tax obligations. In the context of these facts, the fair transfer pricing mechanism can be seen as having a very significant role in creating an ethical and fair environment for this kind of transactions, helping to combat and reduce the tax evasion and money laundering levels on a global scale, as well as being one of the main solutions to tackle the base erosion and profit shifting (BEPS) phenomenon. This paper aims to create – using the observation, analysis and deduction research methods - a clear image for the readers, giving them the possibility to understand the meaning, the role and the implications of the transfer pricing mechanism in the economic international environment and in the social life of the citizens
THE PERFORMANCE OF COMPANIES LISTED ON THE STOCK EXCHANGE
No full textCompanies that think and tend towards sustainability and sustainable development must register and present certain levels of performance, so as to ensure the sustained support of all the company\u27s stakeholders. The objective of the work is the synthetic presentation of the aspects related to the theories of the performance of companies listed on the stock exchange, the utility of stock indices, it proposes indicators to be taken into account by investors and other stakeholders. Also, specific stock market performance indicators are calculated for two Romanian pharmaceutical companies, emphasizing their role for stakeholders (like Earnings per Share, Dividend per Share, Equity per share or net asset per share, Stock market capitalization, Marketability, etc), starting from the information published in the annual financial statements (submitted to the competent ministry), as well as the stock market quotations. Unfortunately for stakeholders, companies present and publish information favourable to their image, which is sometimes considered unrealistic and superficial. The conclusions of the paper summarize the importance of standardizing the presentation of the performance indicators of the companies, in order to ensure a faithful image of the company, as well as the success of an existing or potential investment
TOOLS AND MODELS FOR RATIO ANALYSIS BASED ON GEORGIAN COMPANIES DATA
No full textThe main purpose of the research is to identify two types of benchmarks required for the financial ratios analysis based on Georgian data. To obtain the benchmarks of the first type - industry average, the financial statements for 2018-2019 years of 131 companies in the manufacturing industry were processed. Due to absence of financial market data, a market imitation study was conducted to obtain the second type of benchmarks – ratios of the high performance companies. To achieve this, a survey of 26 representatives of financial industry companies was conducted through a questionnaire, containing the financial ratios of 9 companies from manufacturing industry. Respondents selected companies whose stock prices, in their opinion, would increase or decrease according to their financial ratios. To check the validity of the results we conducted: a follow-up interview with several respondents, a regression analysis of results, and a financial analysis of two high-rating and three low-rating companies using forecasts and free cash flow valuation. As a result of the research, we obtained two types of benchmarks - industry averages and a set of ratios of "high performance" companies. We saw that none of the coefficients taken separately explain the respondents\u27 choices, and that the survey results are consistent with the forecasts and the analysis of the value of the company. During the research, we developed a methodology on how to identify high-performing companies despite virtually non-existent capital market in Georgia. The methodology can be used for other, similar studies. The results are important for anyone who uses financial analysis. It will be interesting for researchers, for example, to study current processes in economics and companies and, hopefully, will contribute to capital market development in Georgia
